The gold loan assets under management (AUM) of IIFL Finance has shrunk over Rs 7,000 crore in three months to around Rs 16,000 crore in June 2024 from Rs 23,354 crore in March 2024.
This follows the Reserve Bank of India’s (RBI’s) restrictions on IIFL Finance for fresh sanctions and disbursement of gold loans, according to CRISIL Ratings. The RBI had imposed curbs, citing certain material supervisory concerns, in March 2024.
A year ago, the AUM of the gold loan business was Rs 22,142 crore (as of June 30, 2023), IIFL Finance data showed.
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